NOVO-B.CO vs. GC=F

Last updated Jun 13, 2026

NOVO-B.CO (Novo Nordisk A/S) is a stock, while GC=F (Gold Futures) is an asset. At a correlation of -0.04, they often move in opposite directions.

Performance

NOVO-B.CO vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a DKK 10,000 investment in Novo Nordisk A/S (NOVO-B.CO) and Gold Futures (GC=F). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NOVO-B.CO is traded in DKK, while GC=F is traded in USD. To make them comparable, the GC=F values have been converted to DKK using the latest available exchange rates.

Returns By Period

NOVO-B.CO

• 1D: 1.66%
• 1M: -3.99%
• YTD: -8.64%
• 6M: -7.47%
• 1Y: -41.76%
• 3Y*: 4.58%
• 5Y*: 20.64%
• 10Y*: 17.36%

GC=F

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NOVO-B.CO vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NOVO-B.CO Novo Nordisk A/S	-8.64%	-46.40%	-9.59%	205.34%	51.27%
GC=F Gold Futures	0.00%	0.00%	0.00%	0.00%	13.26%

Correlation

The correlation between NOVO-B.CO and GC=F is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	-0.04

Return for Risk

NOVO-B.CO vs. GC=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NOVO-B.CO

NOVO-B.CO Risk / Return Rank: 13
NOVO-B.CO Sharpe Ratio Rank: 10
NOVO-B.CO Sortino Ratio Rank: 14
NOVO-B.CO Omega Ratio Rank: 12
NOVO-B.CO Calmar Ratio Rank: 13
NOVO-B.CO Martin Ratio Rank: 17

GC=F

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NOVO-B.CO vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NOVO-B.CO) and Gold Futures (GC=F). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NOVO-B.CO	GC=F	Difference
Sharpe ratio: Return per unit of total volatility	-0.78	—	—
Sortino ratio: Return per unit of downside risk	-0.91	—	—
Omega ratio: Gain probability vs. loss probability	0.87	—	—
Calmar ratio: Return relative to maximum drawdown	-0.78	—	—
Martin ratio: Return relative to average drawdown	-1.15	—	—

Drawdowns

Drawdown Indicators

	NOVO-B.CO	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-76.75%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-54.63%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-76.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-76.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-76.75%	—	—
Current Drawdown Current decline from peak	-70.15%	—	—
Average Drawdown Average peak-to-trough decline	-11.29%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	37.11%	—	—

Volatility

Volatility by Period

	NOVO-B.CO	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	39.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	54.40%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.56%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.08%	—	—

Frequently Asked Questions

Can I hold both NOVO-B.CO and GC=F in my portfolio?

NOVO-B.CO and GC=F have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.